As 2023 closed and we stepped into 2024, the real estate market has seen significant shifts. After the dramatic surge in house prices in 2021 and 2022, driven by limited inventory and various other factors, the market maintained its momentum as a seller's market for most of 2022. However, the landscape began to change towards the end of the year. Heightened inflation rates in the last quarter of 2022 brought new challenges, impacting buyer affordability and market dynamics. The early months of 2023 continued to experience turbulence, largely due to ongoing interest rate hikes, which further cooled some local markets. In these complex and evolving market conditions, partnering with an experienced Real Estate Agent in Waterloo is more crucial than ever. A professional like Mike Bolger can navigate these intricacies, offering tailored strategies for selling your home effectively in this period. For insightful guidance on selling your home in the current market, continue reading this post.
1. Find The Perfect Real Estate Agent
When looking for a Real Estate Agent in Waterloo, find someone who offers more than the lowest commission. Selling a house at your preferred price can be long and cumbersome. You will need valuable advice and communication to help you sell on your terms. You'll sign a seller's agreement once you've decided on a real estate agent to work with. Your agent will explain this document to you.
2. Prepare Your Home and List it on MLS®
Your real estate agent will work with you and suggest preparing your house for sale. Remove all personal items and artwork from your home, clean and shine your home as much as possible, repaint the walls white, and put neutral bed linens. This could also include professional staging and photography of your home. Your real estate agent will list your home on the Multiple Listing Service® (MLS®) whenever it is ready. This will notify potential buyers and buyer's agents that your home is for sale. Potential buyers will want to see your home now that it is on the market. This will be accomplished through planned open houses and showings.
3. Set the Right Price on Your Home
A devoted buyer will be determined to pay any price for the property they intend to buy. Based on the trend over the past few years, it is visible that buyers are willing to pay almost anything. If you price your house competitively, you may receive multiple offers higher than the list price. Even with the scarcity of properties for sale, you want to draw attention and showings, and an unrealistic price won't do that.
4. Market Your House on the Internet
Even if there is not a crowd of houses for sale, work hard to make yours stand out. Ensure you highlight the best features of your home and get noticed. Online real estate market competition is getting fierce, so you need to up your game in the online presentation of your house sale ad. Publish the ad on your realtor's social media accounts across Facebook, Twitter and others. Add social sharing to all your posts and provide contact information in the details. If you like, you can also add a virtual tour of your house to the online community.
5. Conduct a House Showing or Open House
Prospective buyers will want to see your home now that it is formally available on the market. This will be accomplished through planned open houses and showings. You will need to decide the time for showings and open houses with your real estate agent because there will be times when you can be out of the home for work or groceries. To accommodate showings, you'll also need to maintain your home clean and organized at all times.